The construction cranes hovering over the Beijing and Shanghai skylines have come to symbolize China’s high-flying real estate sector. But for all the staggering sums that have flooded into new urban properties, it’s easy to forget that China privatized its housing market less than two decades ago. This young market more

Wu Hao doesn't think much of China's young people. Even college graduates, the Hebei factory manager says, don't have basic skills. "Smiling and shaking hands: I have to teach them this," he complains. "I thought it was cute at first, but it's really not funny." Mr. Wu is hardly alone more

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